Uber is laying off another 3,000 employees, the Wall Street Journal first reported. Uber is also closing 45 offices, and rethinking its approach in areas like freight and autonomous vehicle technology. “I knew that I had to make a hard decision, not because we are a public company, or to protect or stock price, or… Continue reading Uber lays off another 3,000 employees
Tag: Uber
The first Vision Fund is officially done investing (and spent $100M every day of its existence)
There is a flurry of news out of SoftBank this morning, which announced its Fiscal Year 2019 (ending March 31, 2020) financial results overnight. It’s been a bad year for the Vision Fund, with huge losses at WeWork and Uber due to corporate incompetence, intrigue, and of course, COVID-19. But buried a bit in the… Continue reading The first Vision Fund is officially done investing (and spent $100M every day of its existence)
Uber to lay off 3,000 workers in second cut this month
May 18 (Reuters) – Uber Technologies Inc said on Monday it would cut about 3,000 jobs, in addition to the 3,700 it had announced earlier this month, as coronavirus-led restrictions sap demand for ride-hailing services. The company, which is also in talks with GrubHub Inc to reinforce its food delivery business, said it plans to… Continue reading Uber to lay off 3,000 workers in second cut this month
62% Indians to ditch Ola, Uber: Survey
The ride hailing sector will see a massive change due to the crisis. Bengaluru: Once the lockdown ends, more than 70 per cent Indians would avoid public transport while 62 per cent indicated to avoid cab-hailing apps like Ola and Uber, a new survey revealed on Friday. The findings showed that 71 per cent people… Continue reading 62% Indians to ditch Ola, Uber: Survey
Uber: Head of Uber Eats to Participate at Bernstein Strategic Decisions Conference
SAN FRANCISCO–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) announced today that Pierre-Dimitri Gore-Coty, vice president and head of Uber Eats, will participate in a fireside chat at Bernstein Strategic Decisions Conference on Thursday, May 28, 2020. Mr. Gore-Coty is scheduled to appear at 9:00 am ET (6:00 am PT). A live webcast of the event will… Continue reading Uber: Head of Uber Eats to Participate at Bernstein Strategic Decisions Conference
Wall Street loves the idea of Uber buying its competitor Grubhub, but analysts warn getting the deal done amid a pandemic won’t be easy (UBER, GRUB)
Almost as quickly as GrubHub’s stock price skyrocketed following reports Uber had made a takeover bid, so too came the backlash. The potential deal would create a delivery megalith with market share well over 50% in major cities, but also represents a “new low in pandemic profiteering,” as David Cicilline, a congressman and head of… Continue reading Wall Street loves the idea of Uber buying its competitor Grubhub, but analysts warn getting the deal done amid a pandemic won’t be easy (UBER, GRUB)
Uber: Uber Announces Pricing of Upsized $900 Million Senior Notes Offering
SAN FRANCISCO–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) today announced the pricing of $900 million principal amount of 7.500% Senior Notes due 2025 (the “notes”). The principal amount of the offering was increased from the previously announced offering size of $750 million. The notes are being offered only to persons reasonably believed to be qualified institutional… Continue reading Uber: Uber Announces Pricing of Upsized $900 Million Senior Notes Offering
Uber: Uber Announces Proposed $750 Million Senior Notes Offering
SAN FRANCISCO–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) today announced that it proposes to offer $750 million principal amount of Senior Notes due 2025 (the “notes”), subject to market conditions and other factors. The notes are being offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act… Continue reading Uber: Uber Announces Proposed $750 Million Senior Notes Offering
A Grubhub-Uber tie-up would remake the food delivery landscape
Earlier today news broke that Uber is pursuing an acquisition of Grubhub. The global ride-hailing giant is worth a multiple of the American food delivery service, making the tie-up financially feasible, provided that a palatable price can be found for both parties. The Wall Street Journal broke the news; you can read TechCrunch’s coverage of… Continue reading A Grubhub-Uber tie-up would remake the food delivery landscape
Uber is reportedly in talks to buy GrubHub
Uber is in talks to buy GrubHub in an all-stock deal, The Wall Street Journal reports. According to the WSJ’s sources, GrubHub wants 2.15 Uber shares for each GrubHubs share. Uber first approached GrubHub earlier this year with an offer, but the two companies are still in talks, according to the WSJ. A Bloomberg report… Continue reading Uber is reportedly in talks to buy GrubHub